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This material was first published by Thomson Reuters, trading as Sweet & Maxwell, 5 Canada Square, Canary Wharf, London, E14 5AQ, in the Journal of International Banking Law & Regulation as ‘Legal Analyses: Ipso Facto Clauses and their Position in Financing Documents in Singapore’ JIBLR 2021, 36(11), 485-486 and is reproduced by agreement with the publishers. Abstract This legal analysis examines developing market practice in the Singapore legal market on the contractual treatment of the…

On 10 June 2021, the Singapore Court of Appeal published its decision in Sun Electric Power Pte Ltd v. RCMA Asia Pte Ltd. [2021] SGCA 60, which provided important clarifications to the law in Singapore winding-up proceedings. In particular, the Court of Appeal held that in winding-up proceedings, the cash flow test, as opposed to the balance sheet test, should be the sole and determinative test to prove to the court that the company is unable to…